Living in the present. NFL players often experience a quick burst of wealth during their typically short careers. And this burst of wealth is going to have to last them for a lifetime. Advisers need to convince their clients to start working on their financial plan now.

Choosing the wrong team of advisors. Many times, pro athletes rely on friends or family to guide their financial decisions, which can lead to disaster. Instead, players should find a reliable agent, attorney, CPA, financial planner, and insurance specialist, and bring them all together to create a “single voice.”

Spending outside of their means. NFL players that tend to live outside their means need to be educated on basic financial concepts like liquidity and cash flow management. They also need to understand that instead of living like a king for five years, they can live like a prince for the rest of their life.

Not staying liquid. Because careers can often be cut short due to injuries or being cut from a team, NFL players need to have instantly accessible cash.

Not protecting assets. Creditor risk is real. NFL players need to protect their material assets that could potentially be targeted by creditors.

Failing to see the big picture. Some NFL players never evaluate their strengths and skills outside of football. Advisers need to get players thinking about their second careers.